Mortgage Blog

Interest Rate went up a little bit -- Again

April 21st, 2018 1:25 PM by Eric Fang

It is still within the trading range. And I still believe bonds will not go beyond 3% any time soon.

Had a little bit cough for about 10 days now, Started running again since Tuesday. I met a friend this morning and he asked me how I felt. I told him that I only cough when I stopped. So it was ok. I did run an interval on Tuesday, tempo of 6 miles Thursday, and I managed to run 19 miles today. Though the pace was not great, but the average of 8:04 minutes per mile is not bad.

Helped one client to get the house. Sometimes, I think it is the team efforts. I tried my best to have no loan contingencies. Anyway, the seller liked the offer.

Stated income loans are back. I almost started one application by using borrower's assets to qualify for the loan. But the borrowers needs to have lots of assets to qualify. Sometimes, I doubted how the lenders design this system. Basically, you will need more than 5 million assets in order to qualify a reasonable loan. And who needs such a loan if they have so much assets. And my borrowers said that they would prefer to payoff the balance.

There are more other cases as well. I just got one loan approved with the young couple retired earlier. And we used dividend income to qualify.  We do need to qualify with two years dividend income. And as expected, the loan was approved.

Registered another marathon for 2019. I will run Carlsbad Marathon again. I think I can do better next year since I had more hill trainings now. Let's see. I always used Carlsbad Marathon to celebrate my birthday.

Posted in:General
Posted by Eric Fang on April 21st, 2018 1:25 PM



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